British retail sales accelerated last month, boosted by heavy pre-Christmas Black Friday discounting prior to the arrival of the Omicron coronavirus variant, official data showed Friday.
Sales jumped 1.4 percent month-on-month in November from 0.8 percent in October, the Office for National Statistics (ONS) revealed in a statement.
Retailers noted “strong trading related to Black Friday and in the lead up to Christmas”, the ONS added.
The upbeat data came one day after the Bank of England hiked interest rates to 0.25 percent in an attempt to douse hot inflation, despite the increasingly rapid spread of the Omicron coronavirus strain.
“A second successive strong outturn for retail sales in November suggests that consumer spending was in decent shape before the Omicron variant emerged,” said EY ITEM Club economist Martin Beck.
However, he also sounded a cautious note on the outlook as UK coronavirus cases continue to spike ahead of Christmas.
“The short-term outlook for the retail sector is uncertain. Household spending power is increasingly coming under pressure from rising inflation, while the rise in Covid-19 cases caused by the Omicron variant will reduce footfall.”
Retailers slash the cost of certain items on so-called Black Friday, at the start of the festive period, in a bid to boost their Christmas performance. Black Friday took place this year on November 26.
